AI voice startup ElevenLabs said Tuesday it had surpassed $500 million in annualized recurring revenue, up from $350 million at the end of last year, due to growth in sales of its voice agents to businesses. The company also added new investors including Nvidia’s venture arm, BlackRock, Wellington and Santander to a previously announced fundraising. The valuation and size of the new investment

Elon Musk’s voting control of SpaceX jumped to 83.8% from 80% this year over the period when the space firm acquired xAI, according to newly available regulatory filings. Musk’s growing voting control at SpaceX, revealed in documents the company filed with the Federal Communications Commission, reveal how the xAI changed Musk’s stake in the combined firm ahead of its planned initial public

On Tuesday, a small agency within the U.S. Department of Commerce announced new agreements with Google, Microsoft and xAI that will allow the federal government to conduct national security testing on frontier AI models before they’re released to the public. The office, the Center for AI Standards and Innovation, said in a press release that the new partnerships will allow the government to

Apple is in talks with Intel and Samsung to manufacture processors for its devices, a move that would diversify its supply chain beyond longtime chip partner Taiwan Semiconductor Manufacturing Co., Bloomberg reported. TSMC is by far the leader in the most advanced semiconductor fabrication capabilities, which Apple has long relied on for its chip advantage over device rivals. But TSMC’s

SpaceX is touting xAI’s ability to build data centers quickly and cheaply as a major advantage over rival AI labs, part of a pitch for its upcoming initial public offering. For instance, in SpaceX’s draft IPO prospectus, the company said xAI brought the first two chip clusters at its second data ...

Shopify projected a slowdown in revenue growth in the second quarter and said that AI costs had offset efficiency gains in its software business. Shares in the commerce software company fell 9% following the results on Tuesday. Shopify’s overall first-quarter revenue grew 34% year over year to $3.2 billion, benefitting in part from growing international adoption of its payments services as

Monday was Greg Brockman's turn to get grilled, as Elon Musk's lawyer relentlessly questioned the OpenAI co-founder and president about his financial stake in the AI giant and companies it does business with.Brockman took the stand to start the second week of courtroom proceedings in Musk’s ...

Amazon has so far kept its Rufus AI shopping assistant largely separate from its main commerce search bar. But the retail giant is leaving the door open to adding AI commentary to search results, bringing browsing and researching more seamlessly into the buying process. That could mean hybrid ...

Coinbase, the biggest U.S. crypto exchange, said it plans to cut 14% of jobs, or about 700 staff, to manage costs in the market downturn and improve efficiency using artificial intelligence. Shares rose 4% in early market trading. The cut will reduce layers and eliminate “pure managers,” as every leader must also be an individual contributor, CEO Brian Armstrong said in a tweet Tuesday

A16z crypto, the digital assets arm of Andreessen Horowitz, said it raised $2.2 billion for its fifth crypto fund. The fund is about half the size of the $4.5 billion fund it raised in 2022, shortly before the crypto crash. The fund brings its total committed capital in crypto to $9.8 billion. The crypto rally sparked by President Trump’s 2024 election has cooled down, and fundraising for

ServiceNow executives on Monday said they expect the company’s subscription revenue will rise to a range between $30 billion and $32 billion by 2030, or about double the roughly $15.7 billion in subscription revenue the software company has projected for this fiscal year. Demand for its new AI products would drive that growth. The enterprise software firm projected the market for AI

Banking trade groups said the proposed language on stablecoin yield in the crypto bill, the Clarity Act, “falls short of” addressing their concerns around the risk of deposit flight, suggesting they are not yet satisfied with the bill. The statement is a surprise given that crypto companies, including Coinbase, have touted the language as a compromise reached between banks and crypto groups.

Is Palantir soaking up all the growth in the enterprise software sector? That seems like a reasonable question judging by the company’s first-quarter results released on Monday, which showed 85% revenue growth. That’s an astounding growth rate for a business that’s 23 years old. Even better, ...

Sierra, a three-year-old startup that makes agents for managing client relationships, said Monday it is raising $950 million in a funding round led by Tiger Global Management and Google Ventures, valuing the AI customer service startup at over $15 billion including the investment. The new valuation is 50% higher than a September funding round led by Greenoaks that valued the company at $10

The White House is rethinking its approach to AI oversight as models grow more powerful, according to the New York Times, which reported on Monday that the administration is weighing new review processes, including an executive order that would bring together industry executives and government officials to discuss potential guardrails on the technology. A White House official told The

Cisco announced its intent to acquire Israeli cybersecurity startup Astrix, confirming The Information’s report from April. The company didn’t announce an acquisition price. The Information reported that Cisco was in talks to acquire Astrix for between $250 million to $350 million, at least a 25% increase from the startup’s last valuation of roughly $200 million. The agreement follows a

Pinterest’s revenue growth accelerated to 18% in the first quarter, lifting its topline to $854.9 million, the company said Monday afternoon. The digital bulletin board firm said its monthly active user count grew 11%, down a slightly slower growth rate than the fourth quarter. U.S. users grew 4%, the same rate of growth as the previous quarter.

OpenAI has raised $4 billion from 19 private equity firms and consultancies including TPG, Brookfield Asset Management, Bain Capital and Advent for a new company that will employ specialized tech consultants to help the PE firms’ portfolio companies integrate AI, according to a person with direct knowledge of the discussions. The new company, called The Deployment Company, will use the new

OpenAI President Greg Brockman said his stake in the startup he cofounded is worth close to $30 billion. His comment came in response to questioning from a lawyer for Elon Musk as Brockman began his testimony in the trial over Musk’s lawsuit alleging breach of charitable trust at OpenAI. The lawyer, Steven Molo, asked Brockman to confirm that he hadn’t put any of his own money into OpenAI

Palantir reported revenue grew 85% to more than $1.6 billion in its March quarter—a 15% uptick from last quarter—and raised its full-year projection to 71% growth, from the 60% it issued a few months ago. Palantir is continuing to benefit as more U.S.-based companies and U.S. government agencies look to better organize their data for analytics and AI projects. Revenue from U.S. commercial